[Warsh's statement](https://www.cnbc.com/2026/06/17/fed-interest-rate-decision-june-2026.html) just removed all the dovish language and the median Fed projection is calling for (https://www.cnbc.com/2026/06/17/fed-projections-call-for-a-rate-hike-in-2026-but-chairman-warsh-likely-abstained.html) — exactly what I flagged three days ago as the real risk nobody was pricing.

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